Awarded Contract for Atyrau Refinery Modernization Project Phase 3 in Kazakhstan
Dec. 30. 2011
Marubeni Corporation (Marubeni) is pleased to announce that it has been awarded a contract for the Atyrau Refinery (owned by KazMunayGas) Modernization Project Phase 3 in Kazakhstan as part of a consortium with SINOPEC Engineering and KazStroyService. The total project amount is approximately 1.7 billion USD.
The Atyrau Refinery is the largest refinery in Kazakhstan, and refines 100,000 bbl of crude oil per day. In this 3rd phase, the plan is to reinforce the production of oil products to suit European environmental standards by installing new processing equipment, including FCC (fluid catalytic cracker) units.
Furthermore, since this project is part of the National Development Strategy of Republic of Kazakhstan, it is strongly expected to contribute to the economic development of the Republic and further the introduction of Japanese technology in Kazakhstan.
SINOPEC Engineering, a reputable consortium partner, is the core engineering subsidiary of SINOPEC, one of China’s largest oil refining and petrochemical companies. SINOPEC Engineering has carried out many EPC projects in China and has been expanding its project execution capability in recent years having won contracts for overseas EPC projects.
Marubeni Corporation and SINOPEC Engineering signed a Strategic Partnership Agreement on July 13, 2010 aiming to further participation in overseas EPC projects through a mutually beneficial partnership.
Led by its involvement in the refinery EPC business since the first phase of Kazakhstan’s modernization drive began in 2001, Marubeni Corporation hopes to apply its wealth of investment and EPC experience to the natural resource, petrochemical and infrastructure fields in Kazakhstan as well, and assist Kazakhstan in its pursuit of long-term, sustainable business and economic development.